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CNBC
Jan 30, 2013 7:00pm EST
.1% drop in gdp now has team obama blaming republicans for the fiscal cliff and the sequester spending cuts. but you know what? the private economy did well up 3.4%. it was the government economy that fell. i would like to see us finishing the spending cuts of the government. shrink the government more. grow the private economy by 5%. that is my vision. now there is more bad news for new jersey senator bob menendez as the fbi raids the offices of one of his close financial backers. will it present key evidence in the alleged prostitution scandal surrounding the senator. it's all unconfirmed but the potential legal fallout is huge. >>> israel takes no chances. the air force launches two air strikes in syria preventing the assad regime from transporting chemicals and weapons of mass destruction to hezbollah. if the red line is crossed israel will attack again. we cover it all. "the kudlow report" begins now. first up we learned today the fourth quarter gdp fell slightly, much to everybody's surprise. so the white house is blaming republicans for the fiscal tax cliff and the spen
CNBC
Jan 23, 2013 7:00pm EST
half hour the house passes a bill to suspend the debt ceiling but the spending sequester cuts are still set to kick in on march 1st and i hope they do. now house speaker john boehner says president obama is out to annihilate the republican party. we'll talk about all that with new hampshire senator kelly ayotte and our political panel in just a few moments. >> also, big time golfers phil mickelson, tiger woods, lebron james and derek jeter are all supply siders. we'll explain that later this hour. >> i wasn't involved in the talking points process. as i understand it, as i've been told, it was a typical interagency process where staff, including from the state department all participated to try to come up with whatever was going to be made publicly available. >> that of course was secretary of state clinton today on capitol hill saying she had no role in susan rice's false talking points on the benghazi consulate attack. but will we ever find out why ambassador rice denied the terrorist attack and misled the public saying this on "meet the press." >> what happened in benghazi was
CNBC
Jan 29, 2013 7:00pm EST
and steve moore, i love this. harry reid today wants to turn an across the board spending cut into a tax hike. >> it is hard for president obama to make the case against it because it was barack obama's idea in the first place to have it. now democrats are sprinting from it. the reason is democrats thought republicans wouldn't be able to swallow the sddefense cuts. but they came to the conclusion, it is the only way to cut spending and the idea that we are going to transfer and get rid of the sequester and raise taxes. if any single republican voted for that, i would want them extracted from the party. it is the opposite of what we want. we had the biggest tax increase weeks ago. >> what is the president's position going to be? is he going to team up with harry reid and turn this into a tax hike xwbill? >> what we need to do is focus on the long-term deficit. i agree. you raised the point about the need to get together and come up with a deal and eliminate the deficit, that would be great. but cutting a massive, massive cut in spending. but it is a bad idea. but you have a month. oka
CNBC
Jan 24, 2013 7:00pm EST
nothing more than temporary tax cut was a rebate. like bush had two rebates that didn't work. obama had two rebates that didn't work. people know it's not permanent and pay down their credit cards but doesn't affect spending. got to go. hang on. when we come back you can whack at me. we got two major earnings reports out after today's close bell. we begin with microsoft, john joins us with the details. >> reporter: microsoft turned in solid results. revenue just a little bit short of expectations at 21.46 billion dollars. eps a penny better at 76 cents. microsoft says when you count deferred revenue thing are actually a little bit better than that. a couple of highlights. windows, the windows group did better than expected at 5.8 billion in revenue. the business division did a little shy at 5.7. now jane wells has a little bit on starbucks, another big company. jane? >> reporter: john, shares have been up after hours. they were up over 3% at one point. starbucks reported its best holiday ever, best earnings per share ever at 57 cents. improving operator margins to 16.6%. stronger comp s
CNBC
Jan 29, 2013 6:00am EST
that. so you want to get reimbursed for spending a lot of money to develop them. but then again, we all have this problem with keeping health care costs down and obama care wants generic competition for biologics. what's the right road to take there? >> you know, joe, we've been in this industry for over 135 years. for us, we've taken a focus and we pursue both small molecule as well as bioological routes to address some of the most oppressing diseases out there. if you take alzheimer's, we have the biologic but we have a base inhibitor in phase two -- >> would you pay a lobbyist, would you get lobbyists for eli lilly to try to make it that you don't have to have generic competition for biologics, is that something eli lilly would do, or do you go along with it? >> well, remember, in the affordable care act we did get an extension in terms of data protection, as we should be, to at least 12 years. we believe that's very important for us to have a reasonable period to generate return on investment that we make in r&d. we still are the industry that invests the most in r&d, research a
CNBC
Feb 1, 2013 6:00am EST
borrowing money at least through may 19th. the measure postpones spending and tax cuts for at tleeft two months. the obama administration's decision on the keystone oil pipeline won't be made until at least june. that's according to a u.s. officials. the projects has been pending for more than 4 1/2 years. of course, we've had lots of debate about the pipeline even here around this table. >> let's check on the markets this morning. the futures are probably going to be what steady as we go. we'll see what happens at 8:30. but not bad so far. that would be getting back almost exactly what we lost yesterday. we lost about 49 points. and there's a lot of -- it was a great january, but then got that gdp number. we're warning, does it necessarily mean that the market has been wrong about the economy? or was it the one off and was it, you know, some special factors that caused that shrinkage and does it get revised back up and subsequent reports? i've heard a lot of places. this is the best negative gdp report. >> well, if you're going to have to pick a negative one, this would be it
CNBC
Jan 25, 2013 6:00am EST
is cut -- >> let's say the president came to you and said i think 25% of government spending on gdp is an okay number because i've increased entitlements for obama care, i've done other things where i've increased entitlements. i want to bring tax revenues up to 25%. i don't want to meet at 18 or 20 like we've had for so long, would that be okay with you if it was 25%? would that be anti-growth for the private sector? >> my view is you should decide -- what is it you think the government should do. you don't pick a number. you pick a -- >> so -- >> the aging of the population in the u.s. implies that the correct number of white -- >> -- hire -- >> -- is going to change over time because if you say i think the government should be helping people with their retirement through a social insurance like social security then it means the government size number is going to change over time, not just a fixed number. >> but if you look back at the last 60 years the average has been around 22%. >> so yes, if you try to fix it at 22% you're implicitly saying i'm going to pretend like the aging
CNBC
Jan 28, 2013 7:00pm EST
like president obama and you think high government spending is crowded out, the data don't show that, larry, we're at the long-term average and that's pretty good considering how many businesses have huge amounts of excess capacity due to this downturn. the numbers aren't with you, larry. >> i think they are. i think if you look at long-term budgets, we're going back to 24%, 25%, but here's my point. all that stimulus spending. all it did was take money out of the private sector and have huge deficits and create new debt. it didn't grow the economy. 2% growth, that's all we've had. this is the worst in modern times since 1947. >> if you go back to 2010. >> the most amazing thing, larry -- >> it was 2% growth. take a look at the calendar year averages, 2010, 2011 and 2012. my point is this, dean, if your way of stimulus spending was going to work, it would have already worked. now let's try something different. that's all i'm saying. >> trying it in the uk, larry, and they're getting a triple dip recession. >> all they did was raise taxes, that's the exact model we don't want to -- >>
CNBC
Jan 27, 2013 7:30pm EST
, the other side the democrats. and i must say, post-election, president obama has become more election. it's wider. and they don't agree about military spending. they don't agree about what taxation should be, on and on and on. gun control. they don't agree. and on the other hand, you know, we have this sort of slow economy that makes it more difficult to cut a deal. and i should add to that a constitutional crisis, in a way, because this whole debt ceiling has been a weapon that the house of representatives has used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. >> meanwhile, these markets are on fire. another good week for the market. the s&p 500 hitting a new five-year high. what is driving stocks? and do you think it's sustainable for the year? some of the risk has been pulled out of the of the market. so the most recent is three months. some of the ris ks. and maybe just that the election isn't determined. maybe some are happy. some are, some aren't. but it's solved. markets don't like uncertainty. so even though it
CNBC
Jan 31, 2013 7:00pm EST
spending. let's reform entitlements. let's get the deficit down. big picture stuff that never really surfaced in the obama administration. >> it absolutely didn't. and again, perhaps that's a reason the council is going away. the recommendations that -- the big picture items that the council recommended were never really adopted by the obama administration, never pursued, despite the fact that these are people the president appointed and had significant business experience. and somebody again that would lend credibility to us as republicans and democrats in congress as a way to come together to get this country's economy moving. in my view, the situation has not changed. in fact, as we saw by the numbers you just reported, the lack of jobs, the slowing of the economy are still here, perhaps getting more evidence that things are going in the wrong direction, not the right direction. and all the more reason to have something to coalesce around the darn partisanship of washington, d.c. and the differences between congress. and i could say every time i say to my democratic colleag
CNBC
Jan 28, 2013 4:00am EST
from the sequestration, you know, the cut in that spending, in addition to the tax increases that are comes into play, the obama care tax increase and increase on incomes higher than $400,000 a year in earnings, you know, that's going to create some drag. but, you know, i get a sense, kelly, when we do our own analysis at hamilton play strategies, we think that the u.s. economy will be able to power through that this year, even with the -- even with the drag. so, you know, solid growth, but certainly not matching some of the euphoria that we've seen in the last couple of months. >> it's extraordinary because if you say this is a 1.5% drag which is roughly some of the estimates i've seen lately on this and where gdp is almost in the 2.5% range that would suggest we're somewhere in the growth of 1.4%. you could understand why markets are doing better. but unfortunately the what could have or should have doesn't matter too much. if it's the opposite, it will be are reminder of how growth was in the fourth quarter. >> i think the ee zester and the tax increases will take the top off of gr
CNBC
Jan 31, 2013 6:00am EST
house says that they think it happened because people are concerned about the next spending sequestration. and i think, what a bunch of crap. >> did obama say it was the republicans' fault? i saw that. >> i didn't see that. but these are the kinds of things, look at gdp. you can see why it fell. but then people go beyond that and ask it in some femetaphysic way. the dividend fell under pressure. but when you look at what was beyond the gdp components, we had a nice spice in consumer durables. some of that was people buying cars after the storm and so they're spending insurance company money. you had a light increase in inventory compared to the first quarter. that takes some of gdp away. you know you're not going to have that consumer spending for consierms going forward. you have declines in both exports and imports and that had a solid impact on gdp. but you have to be concerned about what's going to happen with exports and, of course, st weak imports. you have to be concerned about that being weak. they're not negative year over year yet, but the flows have slowed down an
CNBC
Jan 24, 2013 9:00am EST
. >> well, tax reform, the question is the tax tape, do you thank you obama is shifting the debate now, that there is going to be far more taken in greater taxes for the wealthy and far less in spending cuts because that is the cret rick? >> difficult to predict. here is where we are right now. in terms of what has been enacted in 2011 and 2012, we are more than half way, hand this is conservative, i think, more than halfway to the so-called $4 trillion level. of that -- of that effort in 2011 and 2012, what has already been inenacted in terms of savings, it's a -- disproportionately weighed on spending cuts, about 72-28. we need more spending cuts, without a doubt we need that i think we have got to try to make sure we get the balance right r >> just ask you one more question, sir, do you think there is a risk that president obama wastes his political capital in the view of most americans? i mean, the rest of the world is here issing, climate change and carpet emissions in the inaugural speech but not what most americans seem most to care about. it's usually jobs and growth. >> it
Search Results 0 to 12 of about 13